Cardamom Prices Settled

Cardamom prices settled unchanged driven by easing demand in the spot market. Further, sufficient stocks position on increased supplies from producing regions too fuelled the downtrend. Total arrivals stood at 84.5 tonnes and almost the entire quantity was sold out. The dry spell, prevailing in the growing regions of Idukki district, where 75 per cent of the cardamom is grown, is signalling of a further drop in the crop. Decline in the north-east monsoon which is expected in the coming days would result in severe water shortage in the growing areas. This phenomenon has also prompted the stockists and others to cover now, Diwali buying is also under way and it is expected to stay for two - three days.